Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Accenture PLC, consolidated cash flow statement

US$ in thousands

12 months ended:	Aug 31, 2024	Aug 31, 2023	Aug 31, 2022	Aug 31, 2021	Aug 31, 2020	Aug 31, 2019
Net income	7,419,197)	7,003,530)	6,988,960)	5,990,545)	5,185,313)	4,846,241)
Depreciation, amortization and other	2,168,038)	2,281,085)	2,088,216)	1,891,242)	1,773,124)	892,760)
Share-based compensation expense	1,941,590)	1,913,051)	1,679,789)	1,342,951)	1,197,806)	1,093,253)
Deferred tax expense (benefit)	(93,988)	(268,953)	(213,294)	60,930)	170,951)	(96,360)
Other, net	(144,920)	(219,082)	(195,975)	(342,849)	(243,867)	(87,522)
Receivables and contract assets, current and non-current	(601,935)	87,669)	(2,411,735)	(1,471,613)	721,500)	(526,297)
Other current and non-current assets	(853,202)	(526,228)	(716,910)	(591,836)	(503,482)	(489,817)
Accounts payable	46,512)	(171,217)	374,349)	825,472)	(359,682)	177,186)
Deferred revenues, current and non-current	28,401)	159,819)	648,506)	554,830)	236,207)	258,067)
Accrued payroll and related benefits	(614,771)	(261,913)	1,271,999)	1,445,010)	(7,845)	386,930)
Income taxes payable, current and non-current	114,076)	113,251)	473,313)	111,795)	55,198)	(162,916)
Other current and non-current liabilities	(277,971)	(586,744)	(446,089)	(841,329)	(10,071)	335,428)
Change in assets and liabilities, net of acquisitions	(2,158,890)	(1,185,363)	(806,567)	32,329)	131,825)	(21,419)
Adjustments to reconcile Net income to Net cash provided by operating activities	1,711,830)	2,520,738)	2,552,169)	2,984,603)	3,029,839)	1,780,712)
Net cash provided by operating activities	9,131,027)	9,524,268)	9,541,129)	8,975,148)	8,215,152)	6,626,953)
Purchases of property and equipment	(516,509)	(528,172)	(717,998)	(580,132)	(599,132)	(599,009)
Purchases of businesses and investments, net of cash acquired	(6,582,702)	(2,530,863)	(3,447,552)	(4,171,123)	(1,531,599)	(1,193,071)
Proceeds from the sale of businesses and investments, net of cash transferred	28,721)	424,387)	(107,659)	413,553)	230,393)	27,951)
Other investing, net	8,672)	12,178)	12,580)	27,936)	5,819)	8,553)
Net cash used in investing activities	(7,061,818)	(2,622,470)	(4,260,629)	(4,309,766)	(1,894,519)	(1,755,576)
Proceeds from issuance of shares	1,418,131)	1,501,069)	1,349,064)	1,065,775)	955,308)	848,445)
Purchases of shares	(4,524,646)	(4,330,403)	(4,116,378)	(3,703,124)	(2,915,847)	(2,691,114)
Proceeds from debt	1,599,033)	100,000)	—)	—)	—)	—)
Repayments of debt	(771,246)	—)	—)	—)	—)	—)
Proceeds from (repayments of) debt, net (legacy)	—)	—)	—)	(7,798)	(6,719)	(4,772)
Cash dividends paid	(3,241,479)	(2,827,394)	(2,457,306)	(2,236,094)	(2,037,733)	(1,864,353)
Other financing, net	(543,301)	(88,598)	(86,406)	(45,096)	(44,101)	(55,377)
Net cash used in financing activities	(6,063,508)	(5,645,326)	(5,311,026)	(4,926,337)	(4,049,092)	(3,767,171)
Effect of exchange rate changes on cash and cash equivalents	(46,264)	(101,273)	(247,815)	13,799)	16,936)	(38,713)
Net increase (decrease) in cash and cash equivalents	(4,040,563)	1,155,199)	(278,341)	(247,156)	2,288,477)	1,065,493)
Cash and cash equivalents, beginning of period	9,045,032)	7,889,833)	8,168,174)	8,415,330)	6,126,853)	5,061,360)
Cash and cash equivalents, end of period	5,004,469)	9,045,032)	7,889,833)	8,168,174)	8,415,330)	6,126,853)

Based on: 10-K (reporting date: 2024-08-31), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-08-31), 10-K (reporting date: 2021-08-31), 10-K (reporting date: 2020-08-31), 10-K (reporting date: 2019-08-31).

Net Income: Net income showed a consistent upward trend each year from 2019 to 2024. It increased from approximately $4.85 billion in 2019 to about $7.42 billion in 2024, indicating steady profitability growth over the period.
Depreciation, Amortization, and Other: This expense rose substantially between 2019 and 2020, nearly doubling from about $893 million to $1.77 billion, then continued to increase more moderately to a peak in 2023 before slightly declining in 2024. This pattern may reflect increased investments in fixed assets or intangible assets followed by stabilization.
Share-Based Compensation Expense: Share-based compensation rose steadily over the six years, increasing from approximately $1.09 billion in 2019 to about $1.94 billion in 2024, reflecting growing employee compensation costs related to stock incentives.
Deferred Tax Expense (Benefit): This item fluctuated considerably, with a benefit recorded in most years except for 2020 and 2021 when there was an expense. The values varied between approximately -$268,953 thousand to $170,951 thousand, indicating volatile tax-related adjustments across the periods.
Other, Net: Other net items were consistently negative throughout the years, ranging from about -$87,522 thousand in 2019 to around -$144,920 thousand in 2024. This points to ongoing minor losses or expenses in other operational areas.
Receivables and Contract Assets: The figures for receivables and contract assets fluctuated notably, swinging between positive and negative values without a clear trend. The largest negative impacts occurred in 2021 and 2022, possibly reflecting changes in working capital or contract terms.
Other Current and Non-Current Assets: Other assets declined consistently across the period, moving from -$489,817 thousand in 2019 to -$853,202 thousand in 2024, suggesting reductions or impairments in certain asset classes other than receivables.
Accounts Payable: Accounts payable showed volatility with no steady direction, alternating between positive and negative values. The fluctuation might be attributed to variable payment cycles or changes in supplier contracts.
Deferred Revenues: Deferred revenue generally trended upward until 2022, peaking around $648,506 thousand, followed by a sharp decline in 2023 and 2024. This could indicate a shift in revenue recognition timing or contract structures.
Accrued Payroll and Related Benefits: This liability exhibited instability, with significant positive values in 2021 and 2022 followed by negative figures in subsequent years, implying changes in payroll liabilities or benefit accruals.
Income Taxes Payable: Income taxes payable increased steadily from negative in 2019 to positive in following years, stabilizing around $114,000 thousand in 2023 and 2024, indicating consistent tax obligations.
Other Current and Non-Current Liabilities: Other liabilities declined notably over the years, with a marked decrease from positive $335,428 thousand in 2019 to negative $277,971 thousand in 2024, suggesting reductions or settlements of other liabilities.
Change in Assets and Liabilities, Net of Acquisitions: This item shifted from minor positive changes in early years to large negative changes in recent periods, reaching nearly -$2.16 billion in 2024. This trend indicates a growing use of cash to fund working capital or other balance sheet adjustments.
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: These adjustments increased sharply in 2020, then remained relatively steady through 2023 before falling in 2024, reflecting consistent non-cash items and working capital changes supporting operating cash flow.
Net Cash Provided by Operating Activities: Operating cash flows increased substantially from 2019 to 2022, peaking near $9.54 billion, then plateaued in 2023 and slightly declined in 2024. Overall, operating activities remained a strong and consistent source of cash.
Purchases of Property and Equipment: Capital expenditures varied moderately year over year, generally fluctuating near half a billion dollars, with the lowest value observed in 2023 ($528 million) and the highest in 2022 ($718 million), reflecting steady but controlled investment in fixed assets.
Purchases of Businesses and Investments, Net of Cash Acquired: Expenditures for acquisitions showed a sizable spike in 2021 ($4.17 billion), compared to earlier years below $1.6 billion. Afterward, investment purchases decreased in 2023 but surged again dramatically in 2024 to over $6.58 billion, indicating aggressive acquisition activity in the latest year.
Proceeds from Sale of Businesses and Investments: Proceeds from divestitures fluctuated considerably, peaking in 2021 at about $414 million, with a noticeable negative amount in 2022, suggesting a net cash outflow from investment disposals that year. Other years recorded comparatively smaller positive cash inflows from sales.
Other Investing, Net: Other investing activities yielded minor positive cash flows throughout the period, generally stable and small in value ranging from approximately $5,800 to $12,200 thousand.
Net Cash Used in Investing Activities: Investing cash outflows increased sharply beginning in 2021 due to higher acquisition spending, with outflows reaching approximately $7.06 billion in 2024, reflecting the company's substantial investment and acquisition strategy.
Proceeds from Issuance of Shares: Share issuances increased steadily from $848 million in 2019 to a peak near $1.5 billion in 2023, with a slight dip in 2024. This trend indicates ongoing capital raising efforts through equity offerings.
Purchases of Shares: Share repurchases increased consistently from $2.69 billion in 2019 to $4.52 billion in 2024, demonstrating a persistent capital return program to shareholders through buybacks.
Proceeds from and Repayments of Debt: Debt proceeds appeared only in 2023 and 2024, totaling around $2.6 billion, while repayments were noted only in 2024 ($771 million). Earlier periods show minor net repayments, suggesting relatively low debt activity initially followed by increased borrowing in recent years.
Cash Dividends Paid: Dividends increased steadily each year, rising from about $1.86 billion in 2019 to $3.24 billion in 2024, indicating a growing commitment to shareholder returns via dividend payouts.
Other Financing, Net: Other financing activities remained negative and relatively stable, with an increasing outflow in 2024, which may be related to financing costs or other financial transactions.
Net Cash Used in Financing Activities: Net cash used in financing activities increased consistently from about $3.77 billion in 2019 to nearly $6.06 billion in 2024, driven mainly by growing share repurchases and dividends, partly offset by share issuances and new debt proceeds in recent years.
Effect of Exchange Rate Changes on Cash and Cash Equivalents: Currency effects on cash balances varied, positive in 2020 and 2021 but negative from 2022 onward, with the largest negative impact in 2022, indicating exposure to fluctuating foreign exchange rates affecting cash holdings.
Net Increase (Decrease) in Cash and Cash Equivalents: Cash balances exhibited significant volatility, with increases in 2019 and 2020, declines in 2021 and 2022, a rebound in 2023, and a large decrease in 2024, reflecting the combined effect of operating, investing, and financing cash flows.
Cash and Cash Equivalents, Beginning and End of Period: Starting cash balances generally increased until 2020, followed by decreases and increases in subsequent years. Ending cash reached a peak in 2023 at approximately $9 billion before falling significantly in 2024 to about $5 billion, consistent with the net cash movements observed.

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Accenture PLC (NYSE:ACN)

Cash Flow Statement